DENVER | Main Development Thread #7

[RyanD]

Haven't been keeping tabs much this winter on 1900 Lawrence. Was pleasantly surprised on its progress:


https://denverinfill.com/2023/02/1900-lawrence-going-up.html

[i4isoar]

Originally Posted by rds70

Renderings of the proposed two tower project at 22nd and California. 25 stories, 646 units, 265 feet, Perkins + Will Architects

Originally Posted by TakeFive

That developer is simply amazing - so far.

Originally Posted by DenvertoLA

646 units is a HUGE project. that is going to have an impact in the area in terms of people walking about.

Looks great! Now this is closer to what I believe "high density" should look like.

Granted, this is only a rendering, so time will tell if the finished product lives up to the promise.

Originally Posted by RyanD

Haven't been keeping tabs much this winter on 1900 Lawrence. Was pleasantly surprised on its progress:


https://denverinfill.com/2023/02/1900-lawrence-going-up.html

Thanks for update, it's coming along nicely.

[TakeFive]

Marieta Condos Break Ground in Uptown
February 13, 2023 - Mile High CRE


Rendering credit: Generation Development

Generation Development, a leader in real estate development in Denver, has broken ground on its latest condominium project: Marieta. Located at the corner of 17th and Washington Streets in the Uptown neighborhood, the five-story Marieta will offer 35 for-sale residential units as well as 2,500 square feet of ground floor commercial space. Sales will launch later this year with completion of the project anticipated in mid-2024.

Doubling your pleasure

In addition to breaking ground on Marieta, Generation Development recently completed construction of The Arbory, a 41-unit condominium project in City Park West

The Arbory - 65% Sold Out
1601 Park Ave










Images courtesy Studio PBA/Generation Development

[Ndj]

Interesting that all of the 2-story 2-bedroom units at the Arbory are still available. That price point must be a tough sell.

[wong21fr]

12-story office building breaks ground in RiNo

https://www.bizjournals.com/denver/news/2023/02/15/steel-house-rino-groundbreaking.html

[BrIced_Tea]

Originally Posted by Ndj

Interesting that all of the 2-story 2-bedroom units at the Arbory are still available. That price point must be a tough sell.

At that price point and size most people would be choosing a townhouse or SF house.
Wish they would have just made them all studio and 1 bedroom condos. As a single person currently looking to buy that's all I need but there is very limited availability on the market.

[TakeFive]

Dateline Denver: February 16, 2023

The number one most read article on KDVR:

Data: Colorado still losing clout as ‘it’ state

What I find interesting is the interactive delta map. With the exception of Illinois the mid-west and south/SE are the favored areas. Presumably this reflects more younger people but that's a guess. How predictive this data actually is only time will tell.

The Good News: The economy keeps chugging along.
The Bad News: The Fed will likely have to raise interest rates higher than originally thought and keep them higher longer.

Boatloads of money going into tech microprocessor/chip manufacturing and EV manufacturing will help keep the economy afloat.

What about Denver?

I could see the rate of growth in Denver and along the front range subsiding but the economy will likely remain solid. Worst case scenario would be getting the blah's similar to the early 2000's which many didn't even notice.

[mishko27]

Originally Posted by TakeFive

Dateline Denver: February 16, 2023

The number one most read article on KDVR:

Data: Colorado still losing clout as ‘it’ state

What I find interesting is the interactive delta map. With the exception of Illinois the mid-west and south/SE are the favored areas. Presumably this reflects more younger people but that's a guess. How predictive this data actually is only time will tell.

The Good News: The economy keeps chugging along.
The Bad News: The Fed will likely have to raise interest rates higher than originally thought and keep them higher longer.

Boatloads of money going into tech microprocessor/chip manufacturing and EV manufacturing will help keep the economy afloat.

What about Denver?

I could see the rate of growth in Denver and along the front range subsiding but the economy will likely remain solid. Worst case scenario would be getting the blah's similar to the early 2000's which many didn't even notice.

I would not take this data seriously at all - anyone in Denver looking at property outside of Denver is counted as someone with the intention to leave. I was helping my sister in law look for a house in SLC, and looked at some houses my boss was looking at in Bethesda, Redfin thus counts this as me "looking elsewhere".

Also the Rent.com data shows the difference between Coloradans searching for rental properties in state and out of state. It does not control for college students who are about to graduate for example - people who are more likely to be renting than anyone else, and likely to do so in whatever state they came from.

Again, the data is kinda crap.

[TakeFive]

Good points to make

Originally Posted by mishko27

I would not take this data seriously at all - anyone in Denver looking at property outside of Denver is counted as someone with the intention to leave. I was helping my sister in law look for a house in SLC, and looked at some houses my boss was looking at in Bethesda, Redfin thus counts this as me "looking elsewhere".

Also the Rent.com data shows the difference between Coloradans searching for rental properties in state and out of state. It does not control for college students who are about to graduate for example - people who are more likely to be renting than anyone else, and likely to do so in whatever state they came from.

Again, the data is kinda crap.

There's are many anecdotal reasons for why people browse the internet. I disagree that conclusions are made that every singe search indicates a specific intention. It's fair to say there's plenty of noise in the data but it's about the aggregate of data.

One of my riders told me "When you're younger you chase the money; when you're older you chase the kids" and I've found this to be substantially true.

Why do people move?

In general, there are three main motivations: a job, family or significant other.

Since the Pandemic and Great Inflation I would add "livability" and "affordability."

Generally, if you're younger instead of older then it's mostly about job opportunities (the money). That will often change to affordability or to family priorities but it's always a personal decision for why people move.

I specifically pointed to the map. The two worst rated states in Illinois and New York are states that have experienced negative (net) migration. Other states or areas of the country do seem to reflect the most recent data from the U.S. Census Bureau. This data though not highly predictive is more current data as apposed to the Census Bureau's lagging data.

Bottom Line:

It's mostly about job creation as apposed to job losses. One statistic that's nearly a 100% is hindsight.

[TakeFive]

Could Colorado override local zoning codes to allow more density? It’s ‘part of the conversation’ as a major land use bill takes shape
Feb 16, 2023 By Andrew Kenney and Nathaniel Minor - CPR News

As the year began, Gov. Jared Polis put Colorado on notice: He wants to implement sweeping changes to how the state handles growth and development.

In his marquee State of the State speech, Polis repeated the word “housing” nearly 40 times, building on an earlier interview where he said that the state needs to encourage denser development by loosening local rules.

I suspect this is the beginning of a good conversation at the state level but I wouldn't expect any dramatic results this year.

How much influence does the Governor have and what will his position be?

In a statement, Polis said that his team had been working with “more than 100” leaders in business, housing, local governments and environmental fields. “Although we don’t have a bill yet, we are closer,” the statement read.

Another interesting question is if this might give Republicans a tangible, relevant issue to campaign on as apposed to conspiracy crap - and not sure how relevant cultural issues are to Coloradoans either, maybe a little bit at the margin?

[laniroj]

Originally Posted by mishko27

I would not take this data seriously at all - anyone in Denver looking at property outside of Denver is counted as someone with the intention to leave. I was helping my sister in law look for a house in SLC, and looked at some houses my boss was looking at in Bethesda, Redfin thus counts this as me "looking elsewhere".

Also the Rent.com data shows the difference between Coloradans searching for rental properties in state and out of state. It does not control for college students who are about to graduate for example - people who are more likely to be renting than anyone else, and likely to do so in whatever state they came from.

Again, the data is kinda crap.

Sometimes you don't need data because everyone you know who used to live in Denver has already left. Maybe it's just me, but seems everyone not in Central Park lit a fire in the alley and blasted John Denver jet plan on their way out.

[laniroj]

Originally Posted by TakeFive

...I suspect this is the beginning of a good conversation at the state level but I wouldn't expect any dramatic results this year...

I wouldn't be too surprised if a bill gets introduced and passed. Polis has absolutely made housing his mission this term (in addition to the train to boulder/longmont). I sort of think he is telling folks, no rent control it will get vetoed but open to state zoning overrides...in any case, I doubt a state zoning bill would have much effect. It's likely to only outlaw single family only zoning and maybe allow for ADUs, but it won't lead to any meaningful housing production.

[rds70]

Final design of AMLI 8th and Broadway - 16 stories, 186 feet, 366 units, Davis Partnership Architects:

[rds70]

Originally Posted by laniroj

Sometimes you don't need data because everyone you know who used to live in Denver has already left. Maybe it's just me, but seems everyone not in Central Park lit a fire in the alley and blasted John Denver jet plan on their way out.

I know no one who has left Denver - friends or coworkers.

As a matter of fact, I am hiring a new employee and 1/4 of the applicants are from outside Colorado.

I continue to see many out of state license plates, the most from Florida and Texas, followed by many midwest states.

[Darius C]

... on the list of ugliest buildings in the world:
https://www.buildworld.co.uk/blog/archives/the-ugliest-buildings-in-the-world
It is an odd list. But, hey, you cannot argue with the "Study & Research" category of Buildworld.

[DenverInfill]

What a stupid list. Here's what they said about DIA:

"Denver Airport’s canopy was the world’s largest fabric roof when it was hung in 1995. This elegant solution put a troubled refurb back on schedule and budget while creating an airy alternative to the common ‘warehouse-effect’ airport. But the devil is in the details: creepy artworks, a talking gargoyle and a Freemasonry-themed dedication stone promote the theory that the airport is actually a lair for Illuminati lizards."

I'm not sure what they mean by "refurb" since this was new construction, but anyway, they actually give props to the canopy roof and overall building results while citing some of the interior artwork and the dedication stone as apparently the things that makes the airport "ugly" and, thus, included in this list. In other words, this is worthless nonsense.

[TakeFive]

The good, the bad and the weird at the first 9News Denver mayor debate
Feb. 17, 2023 By Kyle Harris/Denverite

IMO, Chris Hansen has made a strong case for being elected Mayor. He caught flack for his TV ad that reportedly picked on 'people of color.' Nice way to avoid the real issue (homelessness) by creating a sideshow issue. I watched the ad and couldn't even distinguish anybody's color.

'Creating social housing' was a hot topic. I'm ambivalent partly because the money needed to fund it doesn't grow on trees but perhaps it could help, not sure.

I've always admired Kelly Brough, both her history and her resume of accomplishments but she's being attacked by the liberals which I figured would happen.

[i4isoar]

Originally Posted by Darius C

... on the list of ugliest buildings in the world:
https://www.buildworld.co.uk/blog/archives/the-ugliest-buildings-in-the-world
It is an odd list. But, hey, you cannot argue with the "Study & Research" category of Buildworld.

Originally Posted by DenverInfill

What a stupid list. Here's what they said about DIA:

"Denver Airport’s canopy was the world’s largest fabric roof when it was hung in 1995. This elegant solution put a troubled refurb back on schedule and budget while creating an airy alternative to the common ‘warehouse-effect’ airport. But the devil is in the details: creepy artworks, a talking gargoyle and a Freemasonry-themed dedication stone promote the theory that the airport is actually a lair for Illuminati lizards."

I'm not sure what they mean by "refurb" since this was new construction, but anyway, they actually give props to the canopy roof and overall building results while citing some of the interior artwork and the dedication stone as apparently the things that makes the airport "ugly" and, thus, included in this list. In other words, this is worthless nonsense.

Yep. I wouldn't put too much stock in the opinion of a website that (1) by its own admission, is ranking the building primarily on its interior artwork rather than its exterior appearance, and (2) believes that the majority of ugly buildings in the world are located only in the Anglophone world. There are literally thousands of buildings uglier than DIA in countries like Russia, China, India, Japan, North Korea, South Korea, the 'stans...

Hell, even Singapore, which is otherwise one of the cleanest and most beautiful cities in the world, has some incredibly ugly buildings that are even more unsightly than DIA.

All that being said, I actually kinda like the look of the Ryugyong Hotel, and believe it shouldn't be so high up on that list.

[laniroj]

Originally Posted by rds70

I know no one who has left Denver - friends or coworkers.

As a matter of fact, I am hiring a new employee and 1/4 of the applicants are from outside Colorado.

I continue to see many out of state license plates, the most from Florida and Texas, followed by many midwest states.

When I say Denver, I'm really talking about the center city and maybe one ring of the original 1890's suburbs...call it york to federal, I70 to speer.

Plenty of new license plates, yes, but that's not my point, which is that those I know living in the center city are leaving.

[Brainpathology]

Originally Posted by Darius C

... on the list of ugliest buildings in the world:
https://www.buildworld.co.uk/blog/archives/the-ugliest-buildings-in-the-world
It is an odd list. But, hey, you cannot argue with the "Study & Research" category of Buildworld.

"We identified all the design-themed tweets about these buildings on Twitter. Then we used a sentiment analysis tool called HuggingFace to analyse the percentage of tweets that were negative about each building’s design."

"we identified all the design-themed tantrums from toddlers who can't form thoughts longer than 240 characters on a site that for some reason still exists and fed them through a psuedoscientific 'analysis tool' to gauge how red faced the tantrums were form said toddlers. We then made an article with this 'information' because we are somehow even more lazy than people who still have or read Twitter."

Fixed their methodology for them. Also curious as to anyone's reasons for reading any of the article below that paragraph.